News Archive

Midroc Operating Co., located in Dallas and Shreveport, is waiting on the completion rig to test a wildcat located one and one-quarter miles south of Little Cedar Creek Field in southern Alabama's...

Helped by heavy pipeline traffic and “solid fee-based results” in its transportation and facilities segments, Plains All American reported Q1 adjusted EBITDA of $739 million, up 57% YOY, implied...

For just the second time ever, the US Department of Energy authorized an LNG terminal to export US-produced LNG to countries not covered by free trade agreements (FTAs) with the US. The...

Cheniere Energy Partners’ Sabine Pass LNG Terminal started service in April 2008 as an import and regasification facility. Its current send-out capacity is 4.0 Bcfd and it has 17 Bcf of storage...

Pembina Pipeline said its bought-deal offering of 11.2 million common shares at $30.80 each raised gross proceeds of $345 million. It also sold $200 million principal amount in 4.75% senior...

TC PipeLines will spend $1.05 billion to increase its already diverse portfolio by 33%, buying 45% more of Gas Transmission Northwest and Bison Pipeline from parent TransCanada to bring its ownership...

Foreign oil majors Total and BP joined domestic oil firms Petrobras and OGX among the big winners in Brazil’s two-day licensing round. The country’s first auction since 2008 drew strong interest...

Commercial crude oil inventories in the US fell 0.6 MMbbl in the week ended May 10, according to the US Energy Information Administration (EIA), with crude stocks standing at 394.9 MMbbl, slightly...

Midstream has been one of the energy industry’s biggest job creators worldwide, but it claimed a career casualty in Grazyna Piotrowska-Oliwa, dismissed as CEO of Poland’s 72% owned PGNiG just...

Atlas Pipeline Partners confirmed on May 7 that it had completed the $1.0 billion acquisition of private company TEAK Midstream. Immediately following, it announced a private placement of $400...

Resolute Energy Corporation launched a secondary offering of 13.25 million of its common shares, with certain selling shareholders offering 3.00 million additional Resolute common shares all at...

EOG Resources (EOG; $135.69-May 7; Accumulate; PT: $125)EOG Q1 quick look-Solid. We were expecting a beat and EOG still blew past our numbers. Fine-tuned Eagle Ford machine drives sick Q1 EPS...

Upgrades:• Basic Energy Services Inc. (BAS/$14.30/$8.52/$16.60/$571.49M) from Accumulate to Buy by Global Hunter Securities.• CGG Veritas...

Kinder Morgan Energy Partners is investing $106 million to buy 20 acres adjacent to its existing Pasadena, Texas terminal, build nine new tanks with a storage capacity of 1.2 MMbbls at its Galena...

Australia-listed Buccaneer Energy Ltd. signed a farm-in deal to earn 100% WI in the deep oil rights on ConocoPhillips’ 23,368-acre North Cook Inlet unit offshore Alaska. The farm-in area will be...

On May 9, PVR Partners LP closed the sale of $400 million principal amount of 6.5% senior notes due 2021 at par. The offering was upsized from $300 million. PVR will use net proceeds to repay a...

Cheniere Energy Partners developed the Freeport LNG terminal in late 2000 on the premise that the costs of developing US natural gas reserves were getting high enough to make the importation of...

• Armada Oil kicked off an enhancement program in Plaquemines and Lafourche Parishes, Louisiana. The program angles to improve current 650 boepd field production by 20%. Planned are reworks of...

• ASX-listed Aus Tex Oil achieved record production in April of 630 boepd, up 14% vs. March and 55% vs. February. The company noted the earlier months production was hampered by weather. Volume...

• Canadian independent midstreamer Gibson Energy received committed customer support for an additional 500,000-bbl crude storage tank at its Hardisty, Alberta terminal, joining another two...

• Inter Pipeline Fund said its lending syndicate raised its senior unsecured revolving credit facility by 66% to $1.25 billion from $750 million. The facility can go even higher to $1.5 billion...

• Sunoco Logistics launched a binding open season for its proposed Eaglebine Express project, which will reverse and convert the underused MagTex refined line to crude. The proposed line will flow...

• James M. Estey named Chairman of Gibson Energy and James J. Cleary named director, while Andrew W. Ward and Robert M. Tichio resigned.• John R. Colson, founder and executive...

• Northern Tier Energy LP announced and priced a 12 million-unit public offering priced at $26.28/unit. All units are being sold by Northern Tier Holdings LLC, and the LP will receive no proceeds....

• Approach Resources reported Q1 production of 8,400 boepd, up from Q4’s 7,900 boepd. EBITDAX for Q1 was $24.4 million, up from Q4’s $20.6 million. The company continues to drive down well...

• Chesapeake won an expedited trial against Bank of New York Mellon regarding whether it gave sufficient notice for an early call of $1.3 billion 6.775% in notes. Chesapeake sought to...

• US Capital Advisors has made a $24.1 million preferred equity investment in newly formed and privately held Badger Midstream Energy LP. Funding stemmed from USCA clients, Badger’s GP and an...

• Gastar Exploration announced plans for a private placement of $200 million in senior secured notes due 2018, subject to market and other conditions. Proceeds will finance the company’s Mid-Con...

• Miller Energy Resources may realize net proceeds of up to $10.35 million from a public offering of 500,000 of its 10.75% Series C cumulative redeemable preferreds at $22.25 each launched on May 7...

• ION Geophysical said it will offer up to $175 million in senior secured second lien notes due 2018. The Company will use net proceeds to repay existing debt and for general corporate...